He emailed the board members notifying them, according to emails provided by Chahal to CNNMoney.

"I would've gotten a full dismissal on all charges but that would've likely taken several months in the political/legal system" Chahal wrote to his board. "Nevertheless, to provide the DA an 'exit strategy', all felony charges were dismissed and we agreed on a small misdemeanor plea to resolve the matter."

"I am so happy for you that this is behind you. Best, as always," David Silverman replied.

"DELIGHTED for you amigo - onwards and upwards!!," Robin Murray said.

The fact that the company retained Chahal ignited an uproar in the press and social media. Ten days later, Chahal was fired.

In a memo from new CEO Bill Lonergan sent to employees addressing the board's initial support, Lonergan said the reaction was a response to an emotionally fragile situation and an effort to discourage Gurbaksh from hurting himself by talking with the media.

According to Chahal, who maintains his innocence, settling the case with a plea deal rather than fighting the charges was his effort to take the company public at a billion dollar valuation without getting bogged down by legal proceedings.